Another bad sign for iPhone sales: LG Display profit misses expectations

Another bad sign for iPhone sales: LG Display profit sinks

Another day, another key Apple supplier posting disappointing earnings. Per Reuters, iPhone and iPad display supplier LG Display has posted a 74% quarterly drop in earnings, thus adding to worries that “demand for iPhone and iPad screens weakened amid concerns that Apple was losing its luster in the mobile device market.” Apple devices account for roughly 30% of LG Display’s overall revenues, so it’s likely that at least some of LG Display’s drop in earnings can be attributed to substandard iPhone sales. iPhone audio chip supplier Cirrus Logic and iPhone manufacturer Foxconn both recently also posted disappointing earnings that were reportedly at least partially due to lackluster iPhone sales.

Source:
Reuters
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